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Chinese firm LeEco plans to setup research and development centre in India

NEW DELHI: Chinese electronics firm LeEco is planning to a set-up research and development centre in India with a team of about 1,000 people.

“We are very interested in this market, and we can build our R&D centre and manufacturing base here. The R&D centre alone, by the end of 2016, could be possibly 1,000 staff strong,” Le Holdings Co Ltd Vice President Tin Mok told PTI.

He, however, did not disclose the fund LeECo has earmarked for India but said “the investment will be huge”.

LeECo, earlier known as LeTV, entered India market with launch of smart cycle and now plans to bring Le Superphones along with smart devices such as 3D Helmet, LeMe Bluetooth Headphone and other LeEco ecosystem products like super TV, electric car and music services, among others.

“We see Indian’s good education system could support our product’s localisation as well, and LeEco aims to be a great localised multinational company,” Mok said.

White House’s Meadows raises doubts about plan for Chinese-run TikTok

WASHINGTON: White House Chief of Staff Mark Meadows said on Thursday that if TikTok remains predominantly Chinese-run under the Oracle Corp deal, that would not meet President Donald Trump’s objectives.

Meadows said the administration is still looking at details of the deal and whether it meets national security thresholds, referring to plans by China‘s ByteDance to keep a majority stake in the U.S. operations of the popular social media platform. The proposal calls for Oracle Corp to become a “trusted technology provider” for TikTok’s U.S. operations.